Chubb Ltd

12. Debt

On March 7, 2024 and July 31, 2024, Chubb INA Holdings LLC (Chubb INA) issued $1.0 billion and $600 million, respectively, of 5.00 percent senior notes due March 2034. The 5.00 percent senior notes due March 2034 constitute a single series of notes with an aggregate principal amount of $1.6 billion.

On July 31, 2024, Chubb INA issued $700 million of 4.65 percent senior notes due August 2029.

These senior unsecured notes are guaranteed on a senior basis by Chubb Limited and they rank equally with all of Chubb INA's other senior obligations. They also contain customary limitations on lien provisions as well as customary events of default provisions which, if breached, could result in the accelerated maturity of such senior debt. These senior notes are redeemable at any time at Chubb INA's option subject to a “make-whole” premium (the present value of the remaining principal and interest discounted at the applicable comparable government bond rate plus 0.15 percent). The notes are also redeemable at par plus accrued and unpaid interest in the event of certain changes in tax law. These notes do not have the benefit of any sinking fund.